Company Registration in Malaysia - Profitable Business Malaysia

Malaysia is in high demand for creating a business for the company, especially Labuan in Malaysia, thanks to its own autonomous control system, tax incentives, a good tropical climate and easy access to Asian regions. markedly suitable for creating a business.

Registering a company in Malaysia is very simple and very similar to registering an Indian company.

However, in addition to registering a company for certain sectors, an additional industry license is also required, as follows:

a) agriculture

b) Oil, oil and gas

c) education

d) banking and finance

What are the types of company registration in Malaysia?

The following are the types of business registration in Malaysia:

Companies that can be registered locally in Malaysia are a limited liability company and an unlimited company.

1. Stock limited liability company: such companies are registered as a private company in Malaysia; such a company name ends with the words “Sendirian Berhad” or “Sdn Bhd. appear along with the company name. In the case of a public company, its name ends with “Berhad” or “Bhd” appearing along with the company name.

2. Unlimited stock company: even an unlimited company can be registered either in the form of a private company or in the form of a public company.

Business profile The following minimum requirements are required for registration in Malaysia:

• Subscribers: - At least two subscribers are required.

• Directors: - A minimum of two directors is required.

• Company secretary: - The business secretary who will beinvolved in the incorporation of the business, such a person can either be a member of a professional body appointed by the minister of internal trade cooperatives and consumption; or another person licensed by the Malaysian Commission of Companies (SSM).

Please note that the directors and secretary of the company of the proposed new company, which will be formed in Malaysia, must have their main, only place of residence in Malaysia.

What is the procedure for registering a company in Malaysia?

1. Search for the company name: the proposed name of the new company must be checked to see if it is available or not, in order to check the name of the company, the Guide for naming the company and the Guide for applying the company name should be transmitted from the government newspaper, which provides relevant guidelines.

How exactly to check for a name is given below:

Form 13 A, which is intended to request the availability of a Name, must be completed. The proposed name will be provided for approval by SSM; Just as we (in India) have an MCA portal, in the same way, in Malaysia it is an SSM, and we pay the applicable fee for each name you apply.

A fully completed application for a name must be verified by SSM and must process the application, and if the proposed name is available, it must be approved by SSM. The validity of the approved name shall remain from the date of approval for three months.

2. Documents must be submitted for registration of documents with SSM

Company registration documents are submitted to SSM within 3 months from the date of approval of the company name. If the name is not approved, a new application for the search of the name is submitted to SSM.

3. Memorandum of Association and Memorandum of Association: Submit the original duly certified copy of the Articles of Association and the Memorandum of Association of SSM. Stamps payable are stamped at the post office of the Inland Revenue Department.

Things to be mentioned in MOA and AOA

The names of the first directors and secretaries are indicated in the Memorandum and Articles of Association. And shareholders of the company’s shares are required to sign the Memorandum and Articles of Association of the company before the witness.

Things of the charter of a private business must contain

It should indicate what is the restriction on the right to transfer shares of the company,

Limitations, if any, on the number of members that should be in the company to the maximum,

He must prohibit a public invitation to subscribe for shares / bonds or a public invitation to deposit money with a company.

4. Official declarations: The director or promoter is required to give a sworn declaration in the prescribed form, which must be indicated before registering the company. 

The company secretary handling the registration process.

6. Documents required:

Form 13A that is the Original copy of name application.

The letter received from the SSM approving the name of the company.

The copy of the identity proof of every proposed director and company secretary of the company.

On successful completion and submission of incorporation procedures along with the required compliance with the prescribed fee, the SSM shall scrutinize the application and on being satisfied a Certificate of Incorporation is issued by SSM.

Once incorporation is done, the business may require to obtain certain more licenses, permissions, approval from the relevant authorities' basis the business of the company and the kind of activity the company is indulged into, before the start of the business mentioned in the Memorandum of Association.

GST registration in Malaysia:

Every business in Malaysia is required to be registered with the Goods and Services Tax (GST), after its incorporation if its annual turnover exceeds RM500, 000.